Thursday, December 6th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.366, ten cents below Wednesday’s closing price of $4.469. Retreating from the intraday high of $4.404 as markets opened, prices fell to the intraday low of $4.271 by 10:20AM only to add twelve cents in the following two hours. Attempting to price in the effects of the forecasted mid-month thaw and today’s storage withdrawal, January traded within a tight band near $4.350 before closing lower on Thursday at $4.327.
The Natural Gas Storage Report pushed back one day due to the National Day of Mourning on Wednesday.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 59 BCF withdrawal from storage for the week ended November 30th. This compares to a 2 BCF injection at this time last year and a five-year average withdrawal amount of 58 BCF.
This morning in Globex, WTI Crude was up $1.17; Natural Gas was up three cents; Heating Oil was up four cents; and Gasoline was up four cents.
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